SAS : publishes final subscription price in NOK in its rights issue

Not for release, publication or distribution, directly or indirectly, in or into
the United States, Australia, Canada, Hong Kong, India, Japan, Singapore, South
Africa or any other jurisdiction where such action would be unlawful.

As announced by SAS AB ("SAS" or the "Company") on 23 September 2020, the Board
of Directors of SAS has resolved on a rights issue of common shares in
accordance with the Company's recapitalization plan. The subscription price in
the rights issue is SEK 1.16 per common share. Holders of shares registered with
Verdipapirsentralen and traded at Oslo Børs in Norway will pay an amount in NOK
corresponding to the subscription price of SEK 1.16 per common share, as further
described in the prospectus published on 30 September 2020 (the "Prospectus").

The final subscription price in NOK has, as set out in the Prospectus, been
determined based on Bloomberg's 07:00 CEST NOK/SEK exchange rate today and
resulted in a subscription price of NOK 1.2291 per common share. The aggregate
amount in NOK that a subscriber will pay will be rounded up to whole centesimal
(No. øre).

For further information, please contact:

SAS press office, [phone]

Michel Fischier, VP Investor Relations, [phone]

Advisors to the Company

Skandinaviska Enskilda Banken AB is financial advisor to SAS and Global
Coordinator in connection with the recapitalization plan.

Mannheimer Swartling Advokatbyrå AB and Davis Polk & Wardwell London LLP are
legal advisors to SAS.

Skandinaviska Enskilda Banken AB (publ), Danske Bank A/S, Danmark, Sverige
Filial and Swedbank AB (publ) have been appointed Solicitation Agents and Joint
Bookrunners in the rights issue.

IMPORTANT INFORMATION

This press release and the information herein is not for publication, release or
distribution, in whole or in part, directly or indirectly, in or into the United
States, Australia, Canada, Hong Kong, India, Japan, Singapore or South Africa or
any other state or jurisdiction in which publication, release or distribution
would be unlawful or where such action would require additional prospectuses,
filings or other measures in addition to those required under Swedish law.

The press release is for informational purposes only and does not constitute an
offer to sell or issue, or the solicitation of an offer to buy or acquire, or
subscribe for, any of the securities mentioned herein (collectively, the
"Securities") or any other financial instruments in SAS. Any offer in respect of
any securities in connection with the rights issue or the bondholder offer will
only be made through the Prospectus, including the supplement that SAS made
public on 7 October 2020. The offers under the recapitalization plan are not
made to, and application forms will not be approved from, subscribers (including
shareholders), or persons acting on behalf of subscribers, in any jurisdiction
where applications for such subscription would contravene applicable laws or
regulations, or would require additional prospectuses, filings, or other
measures in addition to those required under Swedish law. Measures in violation
of the restrictions may constitute a breach of relevant securities laws.

None of the Securities have been or will be registered under the United States
Securities Act of 1933, as amended (the "Securities Act"), or the securities
laws of any state or other jurisdiction in the United States, and may not be
offered, pledged, sold, delivered or otherwise transferred, directly or
indirectly, except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act and in
compliance with applicable other securities laws. There will not be any public
offering of any of the Securities in the United States.

In the United Kingdom, this press release is directed only at, and communicated
only to, persons who are qualified investors within the meaning of article 2(e)
of the Prospectus Regulation (2017/1129) who are (i) persons who fall within the
definition of "investment professional" in article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the
"Order"), or (ii) persons who fall within article 49(2)(a) to (d) of the Order,
or (iii) persons to whom it may otherwise be lawfully communicated (all such
persons referred to in (i), (ii) and (iii) above together being referred to as
"Relevant Persons"). This press release must not be acted on or relied on by
persons in the UK who are not Relevant Persons.

This press release contains forward-looking statements that reflect SAS' current
view of future events as well as financial and operational development. Words
such as "intend", "assess", "expect", "may", "plan", "estimate" and other
expressions involving indications or predictions regarding future development or
trends, not based on historical facts, identify forward-looking statements and
reflect SAS' beliefs and expectations and involve a number of risks,
uncertainties and assumptions which could cause actual events and performance to
differ materially from any expected future events or performance expressed or
implied by the forward-looking statement. The information contained in this
press release is subject to change without notice and, except as required by
applicable law, SAS does not assume any responsibility or obligation to update
publicly or review any of the forward-looking statements contained in it and nor
does it intend to. You should not place undue reliance on forward-looking
statements, which speak only as of the date of this press release. As a result
of these risks, uncertainties and assumptions, you should not place undue
reliance on these forward-looking statements as a prediction of actual future
events or otherwise.

The information was submitted by Michel Fischier for publication on 19-10-2020
08:17 CET.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange